Beginning Economics/Good Citizens

Why are goods and services important?

• to buy things

• to get things we want

• we need them to meet our needs

• they are not important

Why do we need money?

• to trade

• to buy goods and services we need

• to use as paper

• to buy fun things only

Why do we need producers, buyers, and sellers?

• they make, buy, and sell the goods and services we need

• we do not need producers, buyers, or sellers

• we only need buyers

• we only need sellers

Why do we make choices?

• because we do not have all of the time and money for everything we want

• we never have to make choices

• because our parents make us

What is a good?

• something that is great

• things people grow or make to sell

• something someone does for you

• something that is bad

What are services?

• something that is free

• something you buy at a grocery store

• work that is done to help others

• something we do not need

What is a producer?

• a person who trades

• someone who buys items

• A person who makes or grows goods to sell

• someone who does work for someone else

What is a buyer?

• someone who sells something

• A person who buys goods

• someone who trades

• someone who grows a product

What does it mean to barter?

• To give something and get something in return

• to sell something

• to buy something

What does it mean when something is scarce?

• when there is a lot of something

• when something is scary

• when there is not enough of something

• a scarecrow